Feeling ready to move on from your Truist account? Whether you're switching banks for better features, consolidating your finances, or simply need to close an unused account, the process, while straightforward, requires careful planning to avoid any unexpected fees or disruptions. Let's walk through it step-by-step to ensure a smooth transition!
How to Shut Down Your Truist Account: A Comprehensive Guide
Closing a bank account isn't just about saying goodbye; it's about making sure all your financial connections are properly severed and your funds are securely transferred. Here's how to do it with Truist.
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| How To Shut Down Truist Account |
Step 1: Prepare for Departure – Gather Information and Plan Your Next Move
Before you even think about contacting Truist, a little preparation goes a long way. This initial phase is crucial to prevent headaches down the line.
Sub-heading 1.1: Open Your New Account (If Applicable)
If you're closing your Truist account because you're moving to another bank, this is your first and most important step. Do NOT close your Truist account before your new one is fully set up and operational.
- Why? You'll need a place to transfer your funds, and having your new account ready ensures a seamless transition for direct deposits and automatic payments.
- What to do: Research new banks, compare their offerings (fees, interest rates, online banking features, branch accessibility), and open your chosen account. Ensure you receive all necessary account details, including routing and account numbers.
Sub-heading 1.2: Inventory Your Truist Account's Connections
This is where you become a financial detective! You need to identify every single transaction that touches your Truist account.
- Direct Deposits: List all sources of income that are directly deposited into your Truist account (e.g., salary, government benefits, retirement payments).
- Automatic Payments/Bill Pay: Go through your statements for the last 6-12 months and identify all recurring payments linked to your Truist account. This includes:
- Utility bills (electricity, water, internet)
- Loan payments (mortgage, car, student loans)
- Subscription services (streaming, gym memberships)
- Credit card payments
- Insurance premiums
- Rent/Mortgage payments
- Linked Accounts: Do you have any external accounts linked to your Truist account for transfers (e.g., brokerage accounts, investment platforms, other bank accounts, peer-to-peer payment apps like Zelle)?
- Outstanding Checks: Have you written any checks from your Truist account that haven't cleared yet? Make a list of them and their amounts.
Sub-heading 1.3: Clear Any Negative Balances or Pending Transactions
Truist will not close an account with a negative balance. Additionally, any pending transactions must clear before closure.
- Action: Ensure your account balance is positive. If you have any pending debits or credits, wait for them to fully post to your account.
Step 2: Redirect Your Financial Flow – Update Direct Deposits and Automatic Payments
Now that you know what's linked to your Truist account, it's time to reroute those financial connections to your new account.
Tip: Don’t overthink — just keep reading.
Sub-heading 2.1: Update Direct Deposit Information
Contact your employer's HR or payroll department, as well as any other organizations that send you direct deposits, and provide them with your new bank account details.
- Tip: It's wise to keep your Truist account open for at least one pay cycle after updating direct deposits to ensure the new setup is working correctly.
Sub-heading 2.2: Reroute Automatic Payments and Bill Pay
This is often the most time-consuming part, but it's essential. For each automatic payment or bill pay you identified in Step 1:
- Online Bill Pay (Truist): If you set up bill payments directly through Truist's online banking, you'll need to cancel these and set them up again with your new bank.
- Merchant-Initiated Payments: For services where you've given the merchant your Truist account details (e.g., Netflix, gym), log into each merchant's website or app and update your payment information with your new bank account.
- Automatic Transfers: If you have scheduled transfers from your Truist account to other accounts (internal or external), cancel these.
Step 3: Drain the Account – Transfer Remaining Funds
Once all direct deposits and automatic payments have been successfully rerouted and you're confident no more transactions will hit your Truist account unexpectedly, it's time to move your money.
Sub-heading 3.1: Transfer Funds Electronically
The easiest way to move your remaining balance is typically through an electronic transfer to your new bank account.
- Via Truist Online Banking: Log in and initiate an external transfer to your new account. You'll need your new bank's routing and account number.
- Via Your New Bank's Online Banking: Many banks allow you to "pull" funds from an external account. Link your Truist account to your new bank's online platform and initiate a transfer.
- Consider Zelle or similar services: For smaller amounts, if both your Truist account and your new account are enabled for Zelle, you might be able to transfer funds quickly. Be mindful of daily limits.
Sub-heading 3.2: Withdraw Cash or Request a Cashier's Check
If you prefer, you can visit a Truist branch and withdraw the entire remaining balance in cash. Alternatively, you can request a cashier's check made out to you.
- Note: There might be fees for cashier's checks, so inquire about them beforehand.
Step 4: Formal Closure – Contact Truist
With your account empty and all connections severed, you're ready to formally close the account. You have a few options for doing this.
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Sub-heading 4.1: Visit a Truist Branch (Recommended for Certain Situations)
This is often the most straightforward and secure method, especially if you have complex accounts, joint accounts, or want immediate confirmation.
- What to bring:
- Valid government-issued photo ID (Driver's License, Passport).
- Your Truist debit card (if applicable).
- Your account number(s).
- Any remaining checks or deposit slips associated with the account.
- Process: Inform a banker you wish to close your account. They will verify your identity, ensure all pending transactions have cleared, and process the closure. Request a written confirmation of the account closure before you leave.
Sub-heading 4.2: Call Truist Customer Service
You can often close a simple checking or savings account over the phone.
- Truist Customer Service Number: 844-4TRUIST (844-487-8478). For calls outside the U.S., use +1-910-914-8250.
- Be prepared to: Verify your identity with personal information (account number, Social Security number, address, etc.). State your intention to close the account.
- Crucial Step: Ask for a confirmation number or email confirmation of the account closure for your records.
Sub-heading 4.3: Online/Mail (Less Common for Full Closure)
While some banks allow limited online closure, for Truist, a direct interaction (in-branch or phone) is generally recommended for a complete and confirmed closure. You might find an account closure request form online, but it's often more for specific situations or to initiate the process. If using mail, send it via certified mail with a return receipt to have proof of delivery.
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Step 5: Final Verification and Record Keeping
Don't celebrate just yet! A few final steps ensure everything is truly complete.
Sub-heading 5.1: Monitor Your Old Truist Account
Keep an eye on your Truist account for a few weeks after closure (if you still have online access). This is to catch any lingering direct deposits or automatic payments that might have slipped through the cracks. If a direct deposit goes to a closed account, it will usually be returned to the sender. However, it's best to avoid this by ensuring all updates are complete.
Sub-heading 5.2: Destroy Old Account Materials
Once you have written confirmation of closure, shred or securely destroy your Truist debit cards, unused checks, and deposit slips. This prevents any potential fraud.
QuickTip: Read a little, pause, then continue.
Sub-heading 5.3: Keep Your Confirmation
File away the written or electronic confirmation of your account closure. This is your proof that the account is officially closed and you are no longer responsible for it.
10 Related FAQ Questions
How to check my Truist account balance before closing?
You can check your Truist account balance through online banking, the Truist mobile app, by calling customer service (844-4TRUIST), or by visiting a Truist branch.
How to transfer money from Truist to another bank?
You can transfer money from Truist to another bank electronically via online banking (by adding the external account), through a wire transfer (fees may apply), or by withdrawing cash and depositing it into your new account.
How to stop direct deposits to my Truist account?
To stop direct deposits, you must contact your employer's payroll department or the originating source of the direct deposit and provide them with your new bank account information.
How to cancel automatic payments linked to my Truist account?
Cancel automatic payments by either logging into the merchant's website/app where you set up the payment, or by canceling the bill pay directly through Truist's online banking if you initiated it there.
How to find my Truist account and routing numbers?
Your Truist account and routing numbers can be found on your checks, by logging into your Truist online banking portal and viewing account details, or by calling Truist customer service.
Tip: Stop when confused — clarity comes with patience.
How to confirm my Truist account is fully closed?
Request a written confirmation of account closure from Truist when you close the account in person or over the phone. You can also monitor your online banking access for a few weeks to ensure it's truly inactive.
How to deal with an outstanding check after closing a Truist account?
If a check is presented after your account is closed, it will likely bounce. It's best to ensure all checks have cleared before closing your account. If one hasn't, you may need to issue a new payment from your new account and notify the payee.
How to retrieve funds if my Truist account was closed with a balance?
If Truist closes your account with a remaining balance, they typically issue a check for the funds and mail it to your address on file. If you closed it yourself and left a small balance, they will often send a check.
How to avoid fees when closing a Truist account?
Ensure your account balance is positive and that all pending transactions have cleared. Some banks may charge a fee if you close an account shortly after opening it, so check your account terms and conditions.
How to close a joint Truist account?
For a joint account, typically both account holders may need to be present at a branch or provide written authorization to close the account. It's best to confirm Truist's specific policy for joint account closures by contacting them directly.
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